to borrow money off the kids to replace manky bathroom?

[gruffalobuffalo]

We moved house not long ago and have been busy decorating, putting down carpets etc. We inherited a yucky bathroom complete with manky smelly carpet and our plan was to save up to replace the suite, tiles and flooring later this year. We had a leak at the weekend resulting in the bathroom carpet being drenched with water. The leak has been sorted out but the carpet absolutely stinks to high heaven (it was only water that leaked but it seems to have reactivated all the yucky smells in the carpet!). I could take the carpet up but then it's bare boards and with a SEN toddler, that would be difficult. I don't want to waste money on temporary flooring that could go towards proper flooring if you see what I mean.

It's going to take four or five months to put aside money each month to pay for the bathroom. We're not having anything fancy, only need about 1K but our savings have been swallowed up due to the moving fees and we're slowly building them back up and would rather not touch our 'emergency' money which is there for car repairs etc. This would be the last essential house job we'd have to do. Would it be awful to borrow out of the children's savings accounts to get the bathroom done soon and pay them back each month over the next four or five months?

Use the money from their accounts, it will be paid back.

Some quite stuff being said on this thread.

When my parents gave me my savings account at 18 (which isn't a right, by the way, not all children have a savings account and receive a lump sum, some parents don't exchange cash but pay for driving lessons, put towards uni etc. at the time), I looked at the savings book and amounts of money had been withdrawn and replaced at different times, presumably needed for something. I was outraged at my Dad for doing this. Oh no, wait. I wasn't at all...I was just really grateful they'd given me anything at all.

If I was 11 or 9 for that matter I would much rather have a nice bathroom than my parents put some cheap lino over bare floorboards and agonised over whether to borrow some money that I had no knowledge of.

I would use emergency money first, then get a o% card, with the kids money as the last option. I don't understand the rationale for not using the emergency money- if a true emergency such as car repairs really happened, you could then borrow the kids money justifiably.

0% card great idea, plenty of people put their summer holiday on one and then pay off monthly. No downside unless very poor credit score, if you have a good one it will be even better if you borrow money and pay it off every single month quickly!

I would, in desperate times, take from my children's accounts, but only if exhausted the first two options and only if family life would genuinely suffer (e.g. mortgage repayment missing would trigger losing house). For a bathroom, not so much.

Use the emergency money!!!!

Haven't read all the replies but some of them are just ridiculous.

I think it would be bordering on negligence to not use the money.

Your children are your responsibility. They are children and do not have the mental capacity yet to decide what the best use of the money is. I bet in 10 years time they would be horrified to discover that you didn't use the money to improve the bathroom.

if it was for a night out or shoes or something ridiculous then that's different!

I fail to see why you need to do it now.you just need some new flooring.Ypou will have to have bare boards for a bit to let the boards dry out.Then you can pick up a piece of vinyl flooring for about £20 and lay it yourself and then save up for the bathroom.

use the money it is for the whole family and a necessity, rather then a hen do

just make sure you do pay the money back, as a friend of mine borrowed from her sons account and forget didnt pay it back and was money from gp's etc for birthdays and now has a few hundred in it compared to a few thousand that was in it for driving lessons/possible car

though i would say dont get a carept in the bathroom, always go damp/soggy and smell with bath water let alone if you have males who miss and pee on the floor !!!!

I'm assuming that was a dig at me blondes?!

My reply would be the same for anyone who is using their kids money for something for their own purpose rather then for the family's needs

I disagree with my friend using her sons money for silly little things but they all add up and I feel she will drain her sons account and he won't be having a car when he's older / or whateve he wants the money for - maybe to go towards uni fees

The family fund only applies if you get certain income based benefits:
www.familyfund.org.uk/grants/who-we-help

Cerebra is a great charity that could help with various stuff for the toddler:
www.cerebra.org.uk/english/gethelp/grants/Pages/whatcanIapplyfor.aspx

They also have a free lending library of sensory toys:
www.cerebra.org.uk/English/gethelp/library/Pages/default.aspx

I'd do it!

It seemed directed at me because I said upthread that I borrowed money from my sons savings last month to pay for a hen do. I also said that I'll be paying back double the amount I borrowed next month, so my DS is going to do pretty well out of it I'd say!

In my defence, I put every spare penny I have in to his savings account, I don't remember the last time I bought/did anything for myself. Also, I only have one friend (the one who is having the hen do), loser that I am! Plus, I will be putting back double the amount next month!

I am not convinced it is illegal but it would depend on what type of account, in fact for some benefits you have to declare what is in your children's accounts as it is counted as yours, this would not apply to an inheritance whcihwas in trust

but even if it was illegal to use for bathroom it would not have been illegal to take the £350 for the trip; in fact the 350 would not legally have needed to be paid back as was directly for the child's benefit. you would also be generally speaking able to withdraw money from a trust for this as often capital can be withdrawn for educational/medical needs

my DD account is her birthday money would withdraw to nuy for instance a trampoline or other stuff she wanted, this is not a savings account for adulthood (that is separate and actually in my name not hers so it means I can decide when she gets it; not so much interest perhaps and i have to pay tax on it but ultimately it is my money as I put it there and if we fell on hard times I would use it)